answersLogoWhite

0

💰

Bankruptcy Law

The US Bankruptcy Code that determines which debts may be discharged and which obligations will remain after a person or organization is deemed insolvent

500 Questions

How much rain does a tropical rainforest get a year?

User Avatar

Asked by Wiki User

Tropical rainforests typically receive between 1,500 to 4,000 millimeters (59 to 157 inches) of rain per year. The exact amount can vary depending on the specific location and climate patterns. Nonetheless, these regions experience high levels of precipitation, which is crucial for the growth and biodiversity of the rainforest ecosystem.

Do chapter 7 bankruptcy relieves you of a mortgage in a divorce but the spouse stills lives in the home?

User Avatar

Asked by Wiki User

Filing for Chapter 7 bankruptcy will discharge your personal obligation to pay the mortgage, but it does not remove the lien on the property. Therefore, the mortgage lender can still foreclose on the home if the mortgage payments are not made. In a divorce, the issue of who is responsible for the mortgage payments would typically be addressed in the divorce settlement or court order.

Bankruptcy and Home Ownership Laws?

User Avatar

Asked by Wiki User

Bankruptcy laws vary by country, but generally, bankruptcy does not automatically result in the loss of home ownership. In many cases, individuals filing for bankruptcy can keep their primary residence through exemptions or by reaffirming the mortgage debt. However, this may depend on various factors, such as the equity in the property and the specific bankruptcy laws in place.

Can I get a dealer's license after filing bankruptcy?

User Avatar

Asked by Wiki User

Yes, it is possible to get a dealer's license after filing for bankruptcy. However, it may be more difficult to obtain the license, as bankruptcy can impact your creditworthiness and credibility in the eyes of the licensing authorities. It will depend on the specific requirements and regulations in your jurisdiction.

Can a judgment that was discharged be reinstated 2 and a half years after the chapter 7 bk judgment was included in the bankruptcy?

User Avatar

Asked by Wiki User

It depends on the specific circumstances and laws governing bankruptcy in your jurisdiction. Generally, once a judgment is discharged in a Chapter 7 bankruptcy, it cannot be reinstated. However, if there were any exceptions to discharge or if the judgment was based on fraud, it could potentially be reinstated. It is best to consult with a bankruptcy attorney for guidance specific to your situation.

What is concelement of property interest on a vehicle?

User Avatar

Asked by Wiki User

Concealment of property interest on a vehicle refers to the act of hiding or obfuscating the true ownership or financial interest in a vehicle. This can be done through various means such as altering or falsifying documents, using shell companies, or transferring ownership to another person or entity. It is usually done to evade taxes, avoid legal obligations, or engage in fraudulent activities.

If you file bankruptcy in one state and own a home in another state may you keep it?

User Avatar

Asked by Wiki User

The answer depends on the type of bankruptcy you file and the value of your home. In Chapter 7 bankruptcy, you may be required to sell the home unless it falls within certain exemption limits. In Chapter 13 bankruptcy, you can typically keep your home and create a repayment plan to catch up on missed mortgage payments. It's best to consult with a bankruptcy attorney to understand your specific situation.

When was BK Kenty created?

User Avatar

Asked by Wiki User

BK Kenty, the vocaloid character, was created in 2010 by the Japanese music company Bplats, Inc.

Can military file bankrupcy?

User Avatar

Asked by Wiki User

Yes, military personnel can file for bankruptcy, just like any other individual. However, certain benefits and allowances provided to military members, like housing allowances, may be taken into account during the bankruptcy proceedings. It is advisable for military personnel considering bankruptcy to consult with a legal assistance office or a bankruptcy attorney who specializes in military issues.

I dismissed my chapter 13 and paid off my debt myself. 6 months later the creditors are still showing the accounts under the chapter 13. What can i do to get it corrected?

User Avatar

Asked by Wiki User

To get the accounts corrected, you should start by contacting the three main credit bureaus (Equifax, Experian, and TransUnion) and notifying them of the situation. Provide them with the necessary proof of your debt repayment and bankruptcy dismissal. Additionally, you can reach out to each individual creditor, providing them with the same information and requesting that they update their records accordingly. Following up with both the credit bureaus and creditors will help ensure that the accounts are accurately updated and reflected on your credit report.

Are there more conkers in 2005 than there have been in other years?

User Avatar

Asked by Wiki User

It is difficult to determine the exact number of conkers in a given year as it depends on various factors such as weather conditions, tree health, and natural cycles. Additionally, there is no comprehensive data available to compare the number of conkers in 2005 to other years. Therefore, it is not possible to conclude whether there were more conkers in 2005 than in other years.

What best describes the debtor's involvement with the bankruptcy judge?

User Avatar

Asked by Wiki User

The debtor's involvement with the bankruptcy judge typically involves attending court hearings and presenting their case or responding to questions from the judge or opposing counsel. The debtor may also need to provide documentation or evidence as requested by the judge to support their bankruptcy claims. Overall, the debtor is expected to cooperate and comply with the instructions and decisions of the bankruptcy judge throughout the bankruptcy process.

Can you donate a paid for car while in bankruptcy?

User Avatar

Asked by Wiki User

While in bankruptcy, the ability to donate a paid-for car can vary depending on the specific circumstances and the bankruptcy chapter you are filing under. In Chapter 7 bankruptcy, a paid-for car might need to be sold to repay creditors. In Chapter 13 bankruptcy, you might be able to keep the car and make charitable contributions with other assets. It's important to consult with a bankruptcy attorney to understand the rules and options that apply to your specific situation.

How can the international bankruptcy be resolved?

User Avatar

Asked by Grnthghs

The resolution of international bankruptcy cases requires cooperation and coordination among multiple stakeholders including creditors, debtors, and relevant international bodies. Negotiations for debt restructuring or forgiveness may be pursued, along with the involvement of mediators or arbiters to help reach an agreement. In some cases, international financial institutions may provide financial assistance or aid packages to help alleviate the financial distress of the debtor country.

What does eo die mean?

User Avatar

Asked by Wiki User

"Eo die" is a Latin phrase that translates to "on that day" or "on the same day." It is commonly used in legal or formal contexts to refer to events or actions that took place on the specific day being discussed.

What is meant by voluntary bankruptcy?

User Avatar

Asked by Wiki User

Voluntary bankruptcy refers to a situation where an individual or business entity chooses to file for bankruptcy in order to have their debts discharged or restructured. It is initiated by the debtor themselves, rather than being forced into it by creditors or other external factors. By filing for voluntary bankruptcy, the debtor acknowledges their inability to repay their debts and seeks legal protection and assistance in resolving their financial situation.

What is the effect of a discharge in bankruptcy?

User Avatar

Asked by Wiki User

The effect of a discharge in bankruptcy is to release the debtor from personal liability for most types of debts. This means that the debtor is no longer legally obligated to repay the discharged debts and creditors are prohibited from taking any further collection actions against the debtor. However, certain types of debts, such as student loans and child support obligations, may not be dischargeable.

If when dividend is declared supporting documents is required?

User Avatar

Asked by Wiki User

When a dividend is declared, supporting documents may be required to verify the eligibility of shareholders to receive the dividend. These documents could include proof of share ownership, such as share certificates or statements from a securities depository, as well as any necessary tax identification information. The purpose of these documents is to ensure that the dividend is distributed only to legitimate shareholders.

Can a bankrupt person start business the next day he filed bankruptcy?

User Avatar

Asked by Wiki User

In general, a bankrupt person can start a business the next day they filed for bankruptcy. However, they may face certain restrictions and considerations. It is important for the bankrupt person to consult with their bankruptcy attorney to understand any limitations and requirements related to starting a new business after bankruptcy.

Whether gifts comes under exempt or nonexempt property in bankruptcy law?

User Avatar

Asked by Wiki User

Gifts are typically considered nonexempt property in bankruptcy law. Nonexempt property is subject to being liquidated or sold to repay creditors in a bankruptcy case. However, there may be certain exemptions or limitations depending on the specific bankruptcy laws of the jurisdiction and the value or nature of the gift. It is best to consult with a bankruptcy attorney to understand how gifts may be treated in your specific situation.

Is it true bankrupt above age 60 can be discharged?

User Avatar

Asked by Wiki User

Yes, it is true that individuals above age 60 can have their bankruptcy discharged, meaning their debts can be eliminated or forgiven. However, this depends on various factors, including the type of bankruptcy filed and the specific circumstances of the individual. Consulting with a bankruptcy attorney is recommended for accurate information tailored to your situation.

Can you increase income with part time job after bankruptcy chapter 7 without them taking it?

User Avatar

Asked by Wiki User

If you have filed for Chapter 7 bankruptcy, any additional income you earn from a part-time job may be subject to seizure by the bankruptcy trustee. This is because Chapter 7 bankruptcy involves the liquidation of assets to pay off creditors. However, it's important to consult with a bankruptcy attorney for advice specific to your situation as laws and regulations can vary.

What happens to your shares after bankruptcy of Bombay Company Inc?

User Avatar

Asked by Wiki User

In the case of a bankruptcy of Bombay Company Inc., the company's assets would be liquidated to repay its creditors. Any remaining funds would be distributed among the shareholders based on their proportionate ownership. However, it is important to note that the value of the shares may become significantly diminished or even worthless, as the company's financial obligations are prioritized over the interests of shareholders in a bankruptcy proceeding.

What does PC stand for after a business name?

User Avatar

Asked by Wiki User

PC or "P.C." stands for "Professional Corporation", a special form of corporation which retains some personal liability for the principals of the business. Ordinarily restricted to licensed professionals such as doctors, attorneys, and public accountants.

How do you get your 1000 dollar Walmart card?

User Avatar

Asked by Wiki User

I won a 1000 dollar walmart .card in my computer and they did not email me the date when it will be sent by mail to me